How do I define competitive salary expectations?
July 3, 2010 9:23 AM Subscribe
I have an second job interview with the R&D department of a large international industrial corporation next week. As part of the process, I am required to complete a personal questionnaire that asks what my salary expectations are. How do I figure out what I'm worth?
I have a PhD in a specialized field in Mechanical Engineering from a reputable university (8th in the world for engineering) with some relevant work experience as part of a co-op program (the job is in the same field, and the required skills align well with mine). The job is based in Germany, so I'd have to move abroad (not a problem, but the offer should at least be competitive for the move to be worthwhile).
I don't know how the cost of living or taxes compare. In addition, I'm Canadian so I'm accustomed to public health care - would health insurance be a benefit I should expect from the employer? I'm also assuming the amount of vacation varies, and I'm not sure how that should impact my salary expectations.
Also, should the exchange rate between the Canadian dollar and the Euro affect the salary range?
I'd like to propose a competitive salary range without looking too greedy and at the same time I don't want to undervalue my skills either.
I have a PhD in a specialized field in Mechanical Engineering from a reputable university (8th in the world for engineering) with some relevant work experience as part of a co-op program (the job is in the same field, and the required skills align well with mine). The job is based in Germany, so I'd have to move abroad (not a problem, but the offer should at least be competitive for the move to be worthwhile).
I don't know how the cost of living or taxes compare. In addition, I'm Canadian so I'm accustomed to public health care - would health insurance be a benefit I should expect from the employer? I'm also assuming the amount of vacation varies, and I'm not sure how that should impact my salary expectations.
Also, should the exchange rate between the Canadian dollar and the Euro affect the salary range?
I'd like to propose a competitive salary range without looking too greedy and at the same time I don't want to undervalue my skills either.
Alternative:
"$XXX in Canada - to be adjusted re: local benefit structures, currency, cost of living, etc"
posted by Quisp Lover at 9:33 AM on July 3, 2010
"$XXX in Canada - to be adjusted re: local benefit structures, currency, cost of living, etc"
posted by Quisp Lover at 9:33 AM on July 3, 2010
I wouldn't leave blank. That could send the wrong message. Better an expression of flexibility.
posted by Quisp Lover at 9:34 AM on July 3, 2010
posted by Quisp Lover at 9:34 AM on July 3, 2010
You should never be the first person to mention compensation. Either you end up lowballing yourself or you price yourself out of the job.
posted by inturnaround at 9:35 AM on July 3, 2010 [2 favorites]
posted by inturnaround at 9:35 AM on July 3, 2010 [2 favorites]
"Negotiable"
If there's no possible way of putting that down, because it's a computer form that requires numbers or something, put together everything you think compensation should include (insurances, bonus, option vesting, parking, etc.) and use that number, so like $2-300K for a 80-120K (paycheck) job.
Plus, surely you have colleagues already in the field, no?
posted by rhizome at 12:10 PM on July 3, 2010
If there's no possible way of putting that down, because it's a computer form that requires numbers or something, put together everything you think compensation should include (insurances, bonus, option vesting, parking, etc.) and use that number, so like $2-300K for a 80-120K (paycheck) job.
Plus, surely you have colleagues already in the field, no?
posted by rhizome at 12:10 PM on July 3, 2010
-----
put together everything you think compensation should include (insurances, bonus, option vesting, parking, etc.) and use that number, so like $2-300K for a 80-120K (paycheck) job.
-----
There's a good chance that the powers that be will understand this, or at least give you a chance to explain. But there's also a chance that they'll misunderstand and think you're overpriced and not give you a chance to explain, because their task is to winnow applicants and you've found yourself summarily winnowed.
posted by Quisp Lover at 12:19 PM on July 3, 2010
put together everything you think compensation should include (insurances, bonus, option vesting, parking, etc.) and use that number, so like $2-300K for a 80-120K (paycheck) job.
-----
There's a good chance that the powers that be will understand this, or at least give you a chance to explain. But there's also a chance that they'll misunderstand and think you're overpriced and not give you a chance to explain, because their task is to winnow applicants and you've found yourself summarily winnowed.
posted by Quisp Lover at 12:19 PM on July 3, 2010
Best answer: I've been on the asking side of the salary expectation question. It was just a simple way to eliminate candidates with unrealistically high expectations. The candidates we were interested in interviewing were the ones who said "negotiable" (the right answer) or who accidentally nailed the salary range we'd actually budgeted (a less business-savvy answer, but no disqualifier).
The correct answer is always "negotiable."
posted by gum at 10:35 PM on July 3, 2010 [2 favorites]
The correct answer is always "negotiable."
posted by gum at 10:35 PM on July 3, 2010 [2 favorites]
Best answer: This green, newly-minted PhD recently accepted a position in which I low-balled myself. They ended up offering me about $15k above what I asked for, and a recent talk with the HR person I originally interviewed with had her laughing at me for lowballing (my reasons at the time included not having the necessary experience for the job, and really wanting to transition into a new career).
She ended up telling me they always expect to hear 'negotiable', and that they always expect someone to negotiate with them to a reasonable extent.
posted by Everydayville at 1:41 PM on July 4, 2010 [1 favorite]
She ended up telling me they always expect to hear 'negotiable', and that they always expect someone to negotiate with them to a reasonable extent.
posted by Everydayville at 1:41 PM on July 4, 2010 [1 favorite]
« Older Google Cloud Print - without waiting for Google... | Can a sheriff determine who gets to become a... Newer »
This thread is closed to new comments.
This doesn't necessarily mark you as a rube who can be underpaid; in fact, it sets you up in a position where you can respond, down the line, to an offer with "yeah, but I'm having to pick up and move, and it's going to be more expensive for me to start from scratch here than for some of your more local employees"...i.e. a nice honest, low-key, non-greedy stance from which to negotiate up.
posted by Quisp Lover at 9:29 AM on July 3, 2010